12 Great Ways to Make More Money in 2018


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Make more money in 2018 – achieve high income and high-return on accumulated wealth. 

Is making more money one of your new years’ resolution? Have you identified the ways in which you will achieve this goal? A new year brings forth more hope and fresh beginnings – new goals too. Many of us abandon our resolutions during the course of the year because we realize we set up some unrealistic goals for ourselves. Whether it is paying off debt, saving a lot more or making more money- we would like to give you some ways you can achieve your goals this year.

Check out this list of ways to make more money this year:

Option 1: Start A New Business [ Full-Time/Part-Time]

Entrepreneurship satisfies the two aspects of wealth building (i.e. achieving high income and high return on accumulated wealth) which makes it the best way to make more money. Whenever I want to start a new business, I always do my research and figure out what areas are hot or not. I start my research by watching the big businesses. What are they doing? What business areas are they investing in and I try to find the research behind their investment decisions. I believe that if a big business is investing in it, there must be something there. Big stable businesses invest in scalable investment opportunities thereby validating a trend. It is the easiest way to find viable investment opportunities.

1. Start an Online Business

Online businesses range from mobile applications, online directories, blogs to e-commerce platforms. The list is endless in terms of nature of the business you can start online. There is a lot of material online on how to go about this. So don’t let ‘too difficult’ be the excuse as to why you don’t make more money this year. As long as you can teach yourself how and create a great business model, you can do it!

Here are some business models that a making it big:

  • E-commerce Platforms – online stores selling everything from makeup, clothing, phones, books etc.
  • Get Paid to Create Content or Host Content. We have all become content junkies and require creative content to keep us engaged. There is a high demand for content out there in terms of videos, e-books series and courses.
  • Mobile Applications. Get paid for a subscription or advertising.
  • Online Directories…etc.

Big Businesses that are scaling online: Safaricom with masoko.com

2. Venture into the Agricultural Sector

Demand for food will never dwindle unless one day we all become vampires, as captured in Hollywood movies. Food supply continues to be a problem around the world and fewer farmers are being born every day. The agricultural sector is large and you can do more than traditional farming in livestock, horticulture, dairy, poultry, coffee or tea. The sector also needs seed producers, manufacturers of sprays and pesticides, veterinary services, construction of dams and boreholes, installation of irrigation systems and services, cold storage facilities, refrigerated transport for horticulture or perishable goods and much more.

Big Businesses that are scaling: Centum with their expansion of their Nyandarua Farm,

4. Become an Importer/Exporter

A lot of us are doing away with traditional business models and looking to be super duper innovative about what we do. We all want to shoot for the starts and forget that there are other great ways to make money and still reach the stars. Importing and exporting business is the oldest type of trade in the books dating back to ancient times. It works and people will always appreciate bringing the products and goods they need closer to them. In Kenya, small business owners prefer to import and export clothes, furnisher and other small items such as our artefacts. You can get creative here too buy importing and exporting other things like oils, herbs, culture and much more etc.

Businesses that are scaling online: Jumia and more.

6. Provide a Service

Services are the easiest to render and make more money. If you are an expert in any particular areas, develop a business model that will enable you to earn money. Have your business registered and put in the work to build a viable brand.

Option 2: Achieve High Growth on Savings

7. High-Yield Cash Investments

If all you have is cash and don’t have a lot of time to manage a new business, lending maybe a great way to go. Nowadays, it is easy to make more money through lending. You can lend to the government/corporates by purchasing high-yield bonds, peers by joining lending clubs (chamas), through investment banks or you can do it directly. How much you earn is completely dependent on where you put your money i.e. some peer lending groups make handsome returns.

Related: How to Produce Income From Investing Forever

8. Add Equities

Add some solid, high dividend paying equities and make more money. Look for companies that are paying well over the inflation rate  (which is running a little over  8% per year) along with other added benefits which will enable you to participate in corporate growth.

Here is a simple stock screener to help you find high-dividend-paying companies while ensuring certain value and stability requirements are met:

  • Size: At least KES. 10 billion in market capitalization
  • High Dividend: All pay a yield  of at least 10%
  • Low Volatility: All stocks with a beta of less than 1 (which means that they have traded with less volatility than the overall market)
  • Reasonable Valuations: Find all stocks that have  P/E ratio to growth ratio (PEG ratio) of 1.75 or less. This will provide stocks that are reasonably priced and growth expectations are moderate. This filter seeks to remove all companies whose dividends are artificially high due to deteriorating earnings fundamentals.
  • Sector Diversification: Have a basket of stocks from different sectors to minimize certain market risks inherent in individual sectors within the economy.

The Nairobi Stock Exchange is a small market, which may make it difficult to find a stock that meets all the above requirements. Do not be afraid to venture out and invest in other big markets with higher market capitalization.

Related:3 Paths Of Wealth Accumulation

9. Invest in Real Estate

My best friend always tells me that land is the only thing we cannot make more of. Because of this, land prices will always be rising in the face of rising population levels. Investing in real estate will always be worth your while. It is one of the best sources of high-yielding investments for a conservative investor. If you can’t afford to invest directly in the real estate sector, consider getting investing in real estate investment trusts (REITS). Locally, STANLIB Fahari I-REIT, which serves as a great alternative to direct investment in real estate with less hustle.

Related: Top 5 Ways To Begin Investing In Real Estate

Option3: Increase Income & Save More

If you have a hobby, skill or a talent, then you might be able to make more money with some side gigs.

10.Take on High Paying Job

If you aren’t already in a high paying profession, then seek out higher paying job opportunities elsewhere. Always be on the lookout and while doing so, work hard at being the best you can be – then ask for more.

11. Ask for a Raise or Pay Yourself More

Ask for a raise if you haven’t gotten one in awhile. If your boss isn’t willing to reconsider how much you earn, then pay yourself more. Pay yourself more by saving more for your future self, thereby increasing the payout from your retirement account.

12. Make More Money With Side Hustles

Internet Jobs

Internet jobs can offer you some extra cash to supplement your current income. You can enlist to provide services for a fee online. We have websites such as Upwork, Freelancer or Fiverr which provide a platform to get work from all over the world. You can work on writing, editing,  web design, coding, translation, virtual assistant gigs, marketing, copywriting and even high earning work like consulting.

Offline Side Hustles

It is just so much you can do to earn some extra cash. Here are a few of my ideas:

  • Become a part-time instructor in yoga, fitness or even tutoring.
  • Offer your hobbies, skills or talents part-time for a fee i.e. handyman fix-ups, writing, private chef, book-keeping for small businesses, babysitting, tax preparation etc.

Some of these things you can embark on them immediately, while others you may need some help or guidance. Making more money just requires a little bit more commitment and time.

Final Thoughts

Necessity is the mother of all invention, do not let your perceived lack limit you from achieving your goals this year. You can always start small and work your way up to whatever your goal or vision is. All these opportunities are within your reach, you just need to learn and get creative on how you can make it happen. Money making opportunities are everywhere, you just need to keep yourself attuned to what is happening around you and the opportunities will appear before your eyes.

Meanwhile, You can click on the following links to read more about financial planning and making more money: 

Disclosure: This information is provided to you as a resource for informational purposes only. It is being presented without consideration of the investment objectives, risk tolerance or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal. This information is not intended to, and should not, form a primary basis for any investment decision that you may make. Always consult your own legal, tax or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.

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Irene Makanga
Irene has an MBA in Finance and is an avid businesswoman, passionate about financial literacy.


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